Neoclassical finance
By: Stephen A. Ross.
Series: Princeton lectures in finance
Publisher: Princeton University Press
Published: 2004
Place of publication: Princeton, NJ
Language: eng
Number of pages: 102
Subjects: Finance.; Efficient market theory.
Description: "Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no free lunches in financial markets, and jointly with John Cox he developed the related concept of risk-neutral pricing. In this book Ross makes a strong case that these concepts are the fundamental pillars of modern finance and, in particular, of market efficiency. In an efficient market prices reflect the information possessed by the market and, as a consequence, trading schemes using commonly available information to beat the market are doomed to fail." "This book represents a major contribution to the ongoing debate on market efficiency, and serves as a useful primer on the fundamentals of finance for both scholars and practitioners."--BOOK JACKET.
Notes: Includes bibliographical references and index.